Question

In Process costing cost of a product is decided by____ A)Average method periodically
B)On completion of the job
C)On operation of service
D)On non-operation of service

Answer 1

Answer:

b. on completion of job

Answer 2

In Process costing cost of a product is decided by____

A) Average method periodically

B) On completion of the job

C) On operation of service

D) On non-operation of service

The correct answer:

B) On completion of the job

Explanation:

In Process costing cost of a product is decided by On completion of the job.

The process cost is the method by which large companies assess the cost of their products on a large scale. The process cost is a common process in the manufacturing industry where the cost of producing each unit of output is very similar.

The process costs the cost of the product by taking care of the cost of each step of the product at the cost of each product and the total cost is determined after adding the cost of all stages. In this way, the cost of the product is determined even after the job completion.

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In …………… production system goods are produced on a large scale and stocked till they are demanded in the market ?

a) job

b) project

c) mass

d) batch